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| Mark Read |
WPP CEO Mark Read reported like-for-like revenues dropped 2.7 percent to $3.3B in Q1 due to the challenging business environment.
The firm made solid progress on its strategic priorities, and Read declared the internal focus on integration is now behind it.
Though WPP is not directly affected by president Trump’s tariffs, “they will impact a number of our clients, as well as the general economy,” he said.
WPP reported flat revenues of $1.3B in North America, while the UK dipped 5.5 percent to $490M, Continental Europe fell 4.5 percent to $648M, and the rest of the world declined 3.8 percent to $848M.
The Top 25 clients grew 2.5 percent during Q1 sparked by a strong performance in CPG, improvement in tech & digital services, and stabilization in healthcare.
Retail, telecom and travel & leisure posted declines.
On the PR front, revenues declined 6.6 percent to $223M, reflecting the divestiture of FGS Global to KKR.
Burson posted a revenue dip in the mid to high single digits, due largely to the lackluster European market. Read is encouraged by Burson’s improved new business momentum in the US.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
